TEGoVA General Assembly Malahide, Co Dublin 22 October 2016 · TEGoVA General Assembly –...

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TEGoVA General Assembly – Malahide, Co Dublin – 22 October 2016

Draft Minutes

The meeting was declared open at 9h30 under the chairmanship of Krzysztof Grzesik (PFVA). Those present or represented at the General Assembly are indicated in Annexes I and II. Voting rights share-out chart in Annex III. Proxies from IsIVI to ASSOVIB, SVP to ANEVAR, CCA to PFVA, RBA to LIVA, IVSG to NAVS and PRSA to RSA. The Assembly recognised itself as validly constituted and fit for deliberation.

The General Assembly nominated Alberto Cabrera (AEVIU) as Secretary and Luke Brucato (CEPAS) as Scrutineer. I. APPROVAL OF THE MINUTES OF THE LAST GENERAL ASSEMBLY Approved. II. TEGoVA FINANCES The Treasurer, Adrian Vascu (NEVAR), presented the financial situation of the current year. The year will close with an important surplus. The annual subscriptions have been cashed and the expenses are respecting the budget. Regarding 2017, Adrian Vascu announced a healthy financial budget. Almost € 300.000 is expected from the annual subscription fees and € 375.000 from the complementary subscription fees related to REV, REVC and TRV. The budgeted expenditure of around € 540.000 is at the same level as last year’s and is presented without Belgian VAT to show the weight of the VAT in the budget, reaching almost € 94.000. The Treasurer announced an estimated € 100.000 budgetary surplus which will increase the reserves of TEGoVA.

The budget includes the one-off income and expenses coming from the REVASE project financed by EU funds. The 2017 income amounts to € 694.804 and the expenditure budget amounts to € 694.804. The budget is therefore balanced.

Draft Minutes TEGoVA General Assembly Malahide 22 October 2016 – T16-32 of 28.11.2016

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The 2017 budget and the 2017 Members’ subscriptions were approved by unanimity (see Budget in Annex IV). Note from the Secretariat: The income chart of the 2017 budget presented in Malahide includes the subscription fee from an organisation which ceased to be a member of TEGoVA last May; the chart has been amended accordingly for these Minutes.

III. REV 1. Audit reports regarding CEIF-FNAIM, NAVS and NTF Roger Messenger (IRRV), Chairman of the Recognition Committee, reported. The Board had considered the Recognition Committee’s favourable audit conclusions regarding CEIF-FNAIM, NAVS and NTF and had decided to maintain their status as awarding bodies with the right to issue REV certificates of recognition to individual valuer members, and to recommend ratification thereof by the General Assembly. The General Assembly unanimously ratified the Board’s approval of the Chambre des Experts Immobiliers de France (CEIF-FNAIM), National Association of Valuers of Serbia (NAVS) and Norges Takseringsforbund (NTF), to continue to issue REV certificates to individual valuer members. 2. HDSViP 2.1. Assessment report regarding HDSViP Roger Messenger reported. The Board had considered the Recognition Committee’s favourable assessment conclusions regarding the Croatian Association of Court Expert Witnesses and Valuers (HDSViP) and had decided to approve it as awarding member of the Recognised European Valuer status (AMA), and to recommend ratification thereof by the General Assembly. 2.2. Approval

The General Assembly unanimously ratified the Board’s previous approval of HDSViP for admittance by TEGoVA as awarding member of the Recognised European Valuer (AMA) status. 2.3. Award ceremony for AMA candidate HDSViP To general applause, Krzysztof Grzesik handed over the TEGoVA/HDSViP Agreement to Melita Bestvina, President of the new awarding member association. 3. Any other issue None.


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IV. TEGoVA RESIDENTIAL VALUER

1. CEIF-FNAIM and NTF 1.1. Assessment report regarding CEIF-FNAIM and NTF

Roger Messenger reported. The Board had considered the Recognition Committee’s favourable assessment conclusions regarding CEIF-FNAIM and NTF and had decided to approve them as awarding members of the TEGoVA Residential Valuer status (R-AMA), and to recommend ratification thereof by the General Assembly. 1.2. Approval The General Assembly unanimously ratified the Board’s approval of the Chambre des Esperts Immobiliers de France (CEIF-FNAIM) and Norges Takseringsforbund (NTF) for admittance by TEGoVA as awarding members of the TEGoVA Residential Valuer (R-AMA) status.

1.3. Award ceremony for R-AMA candidates CEIF-FNAIM and NTF To general applause, Krzysztof Grzesik handed over the TEGoVA/CEIF-FNAIM Agreement and the TEGoVA/NTF Agreement, to Philippe Conté and Ottar Skare, Presidents respectivelly, of the new residential awarding member associations.

2. Any other issue

None.

V. AUTOMATED VALUATION MODELS – THE LIMITS ON THEIR USE SET

BY STANDARD SETTERS, EBA, FSB AND EU LAW The Chairman gave a presentation on Standard setters’, EBA’s and FSB’s limits on the use of AVMs. Hans Van den Heuvel (VBO) gave a presentation on the Dutch decree enabling use of ‘pure’ AVMs without valuer involvement for initiation of mortgages in the event that the mortgage amount is lower than 90% of the value of the residential property, and on EU law in relation to the Dutch decree. Michael MacBrien (Secretariat) informed the General Assembly of TEGoVA’s complaint to the Commission’s backed by a memorandum from the law firm & DE BANDT. Ensuring that the Commission prioritises investigating this aspect of Dutch implementation of the Mortgage Credit Directive would require a letter of support for the investigation coming from a cross-party group of Members of the European Parliament (MEPs) from parliamentary committees involved with the Mortgage Credit Directive.


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Getting this parliamentary support would require the intervention of TEGoVA members with their MEPs. To test the water, he gave, for the key committees, examples of some MEPs from a sample number of member states. The result was very encouraging: many TEGoVA delegates identified MEPs that they would be able to approach. The Secretariat would shortly return to the members with guidance. Wolfgang Kälberer (vdp) stressed that there is no commonality between banks on the use of AVMs, practice differing widely. The Mortgage Credit Directive is not a banking supervisery directive but a consumer protection one. In practice, consumers have a bigger say in this kind of regulation than lenders and he advised that a dialogue be established with them, especially as AVM abuse is a risk for consumers as they are at the end of the chain. He wished to clarify the proper role of AVMs for banks. Banks have to use them for cost and process reasons. For standardised mass business they are used more and more. What is crucial is human control, which must crosscheck, override and replace a figure if identified as not consistent. There is an obligation to correct the value if needed. It ensued from the general discussion that followed that this is a hot issue all over Europe including Turkey. Bekir Yerner Yildirim (TDUB – Turkish Appraisers Association) informed the Assembly that the biggest banks have invested in an AVM company and are ordering desk-top valuation reports from TDUB members. However the Turkish government has not yet allowed the kind of AVM use seen in the Dutch case. Though Adriano Lucas (ASAVAL) was able to point to a Portuguese law last year requiring that all appraisals be prepared by individual valuers, the various interventions showed that elsewhere stresses are appearing. It was agreed that the matter requires close attention and intervention.

“Professional Valuations EVS 2016”

Sebastiaan Roggeveen Valuation Expert

Dutch Association of Real Estate Brokers and Valuers


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VI. EUROPEAN VALUATION STANDARDS BOARD (EVSB)

Krzysztof Grzesik announced the Board’s nomination of the following persons to the EVSB: Alberto Cabrera (AEVIU) Silvia Cappelli (ASSOVIB) Anamaria Ciobanu (ANEVAR) Wolfgang Glunz (BDVI) Jeremy Moody (CAAV) Michael Reinberg (ARE) Sebastiaan Roggeveen (NVM) Gareth Sellars (AFREXIM) Angelos Simos (AVAG) Marek Wiśniewski (PFVA)

He further announced the nomination of Michael Reinberg as Chairman and Jeremy Moody as Vice Chairman. The EVSB’s top priority would be the development of European Residential Valuation Standards. VII. EUROPEAN VALUATION PRACTICE AND METHODOLOGY BOARD

(EVPMB) Krzysztof Grzesik announced the Board’s nomination of the following persons to the EVPMB:

Dana Ababei (ANEVAR) Adriano Callé Lucas (ASAVAL) Estanislao de Kostka de la Quadra-Salcedo Capdevila (AEV) Leandro Escobar (ATASA) Georg Flődl (ÖVI) Philippe Guillerm (AFREXIM) Danijela Ilić (NAVS) Theodor Konstantakopoulos (AVAG) Nick Millard (CAAV) Stephan Zerbe (VÖB)

He further announced the nomination of Philippe Guillerm as Chairman. The EVPMB’s priorities would be the development of methodology on Mortgage Lending Value (MLV) and long term sustainable value, and taking the current information paper on methodology to the level of a set of guidelines. VIII. INTERNATIONAL STANDARD SETTER DEVELOPMENTS The Chairman reported on a number of informal meetings with the IVSB. The major stumbling block remained the continued focus of IVSB interlocutors on a standards ‘hierarchy’ with IVS on top. He continued to explain to them that TEGoVA accepts no hierarchy.


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He noted that the IVSB are still reorganising and defining their relations with other standard setters.

“The Irish Property Market – From boom to bust to boom to … ”

Ian McCarthy SCSI MIPAV REV MCEI MRICS

Independent Property Consultant IX. EUROPEAN VALUER The roundtable discussion showed general satisfaction with the journal, Patrick Davitt stating that IPAV circulate it to MEPs and government personnel. The Board recommended that the Journal be put on Members’ websites. Several parties emphasised the greater reach that would be achieved with translation. The Chairman reiterated the call to all members for contributions on interesting, controversial subjects.

“IAAO in Brief”

Ronald D. Worth CAE, FSMPS, FAIC Executive Director

International Association of Assessing Officers (IAAO)


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X. TEGoVA MEMBERSHIP CANDIDATURES

Italy

IEV ISTITUTO di ESTIMO e VALUTAZIONE (E-VALUATIONS) - Institute of Estimation and Valuation (IEV) –

(Observer Member) Following the Board’s recommendation of approval and a presentation by Dr. Angelo Donato Berloco, President of IEV, the General Assembly approved the IEV application for Observer Membership for one year, after which the association would need to request Full Member status.

Turkey

TDUB TÜRKİYE DEĞERLEME UZMANLARI BİRLİĞİ

- Turkish Appraisers Association (TAA) -

(Associate Member)

Following the Board’s recommendation of approval and a presentation by Bekir Yerner

Yildirim, President of TDUB, and the General Assembly approved the TDUB application for

Associate Membership.

Ukraine

UABVS АСОЦІАЦІЯ СПЕЦІАЛІСТІВ БАНКІВСЬКОЇ ОЦІНКИ УКРАЇНИ (АСБОУ)

- Ukrainian Association of Bank Valuation Specialists (UABVS) -

(Associate Member)

Following the Board’s recommendation of approval and a presentation by Aleksey Kalapusha

Ph.D., Vice-President of UABVS, the General Assembly approved the UABVS application for

Associate Membership.


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“AIC/AI International Valuation Conference, Ottawa, June 8-11 2017”

Keith Lancastle MBA, CAE CEO

Appraisal Institute of Canada (AIC) XI. SPRING 2017 GENERAL MEETING & VALUATION CONFERENCE Belgrade, organised by the National Association of Valuers of Serbia (NAVS) A presentation was made by Danijela Ilić CRE FRICS REV, President of NAVS. XII. CANDIDATURES FOR HOSTING OF FUTURE GENERAL MEETINGS

Autumn 2017 Marseille, organised by CEIF-FNAIM (inspection and approval pending)

Spring 2018 The Chairman announced that ASAVAL had put itself forward to host the spring 2018 General Meeting in Estoril. The candidature would be reviewed at the afternoon Board meeting. Autumn 2018 The Chairman announced that the Board had accepted the candidature of ÖVI for the holding of the autumn 2018 General Meeting in Vienna; final approval of ÖVI as organiser pending inspection. XIII. ANY OTHER BUSINESS None.


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To general applause, the Chairman thanked Alan Redmond and Patrick Davitt, respectively President and CEO of IPAV, for a very successful event and presented them with a silver plate to mark the occasion. The meeting ended at 13:00.

Krzysztof Grzesik

PFVA Chairman

Alberto Cabrera

AEVIU Secretary

Luke Brucato

CEPAS Scrutineer


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ANNEX I

Attendance List

Spain

AEV

ASOCIACIÓN ESPAÑOLA DE ANÁLISIS DE VALOR (AEV)

Spanish Association of Value Análisis

Present Proxy from …… Absent Proxy to ……

Delegates: I. Amiano; L. Mays

Spain

AEVIU

ASOCIACIÓN ESPAÑOLA DE VALORACIÓN INMOBILIARIA Y URBANÍSTICA (AEVIU)

Spanish Association of Real Estate and Urban Appraisal


Delegates: A. Cabrera ; C. Marmolejo

France

AFREXIM

ASSOCIATION FRANCAISE DES SOCIÉTÉS D'EXPERTISE IMMOBILIÈRE (AFREXIM)

French Association of Property Valuation Companies


Delegates: J-F. Drouets; P. Guillerm; J. C. Dubois

United States of America

AI

OBSERVER

APPRAISAL INSTITUTE (AI)


Delegates: M. Lance Coyle; J. Murret; F. H. Grubbe

United States

AIC

OBSERVER

APPRAISAL INSTITUTE of CANADA (AIC)

Institut canadien des évaluateurs


Delegates: D. Brewer; K. Lancastle

Romania

ANEVAR

ASOCIATIA NATIONALA A EVALUATORILOR DIN ROMANIA (ANEVAR)

National Association of Romanian Valuers

Present Proxy from SVP Absent Proxy to ……

Delegates: A. Vascu; D. Manate; A. Ciobanu ; D. Ababei;

http://www.tegova.org/en/4294305b2d677

http://www.tegova.org/en/429b21b575758

http://images.nationmaster.com/images/flags/ca-lgflag.gif

http://www.tegova.org/en/429b21b575758

http://www.tegova.org/en/42972569be676


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Austria

ARE

VERBAND ÖSTERREICHISCHER IMMOBILIENSACHVERSTÄNDIGER (VÖI)

Austrian Association of Real Estate Experts (ARE)

Present Proxy from …. Absent Proxy to ….

Delegates: H. Muhr; M. Reinberg; I. Eckhart

Portugal

ASAVAL

ASSOCIAÇÁO PROFISSIONAL DAS SOCIEDADES DE AVALIAÇÁO

Professional Association of Valuation Companies of Portugal

P

Present Proxy from …… Absent Proxy to …..

Delegates: A. Callé Lucas,; I. Araújo Ferreira

Italy

ASSOVIB

ASSOCIAZIONE SOCIETÀ DI VALUTAZIONI IMMOBILIARI PER LE BANCHE (ASSOVIB)

Association of Property Valuation Companies for the Banking Sector

Present Proxy from IsIVI Absent Proxy to ……

Delegate: S. Cappelli

Spain

ATASA

ASOCIACION PROFESIONAL DE SOCIEDADES DE VALORACION (ATASA)

Professional Association of Valuation Companies of Spain


Delegate: S. Suarez

Greece

AVAG

ΣΥΛΛΟΓΟΣ ΕΚΤΙΜΗΤΩΝ ΕΛΛΑΔΟΣ (ΣEKE)

Association of Greek Valuers (AVAG)

P

< Present Proxy from …… Absent Proxy to ……

Delegate: K. Pallis

Germany

BDVI

BUND DER ÖFFENTLICH BESTELLTER VERMESSUNGSINGENIEURE e.V. (BDVI)

German Association of Publicly Appointed Surveyors


Delegate: W. Glunz

http://www.tegova.org/en/42972a57a9b0f

http://www.tegova.org/en/429458dd28292


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Republic of Macedonia

BSV

BIRO ZA SUDSKI VESTACENJA (BSV)

Bureau of Court Expertise

Present Proxy from …… Absent Proxy to …… < Delegate: -

Germany

BVS

BUNDESVERBAND ÖFFENTLICH BESTELLTER UND VEREIDIGTER SOWIE

QUALIFIZIERTER SACHVERSTÄNDIGER (BVS)

Association of Publicly Certified and Qualified Experts

Present Proxy from …… Absent Proxy to …… Delegate: B. Bischoff

United Kingdom

CAAV

CENTRAL ASSOCIATION OF AGRICULTURAL VALUERS (CAAV)


Delegates: J. Moody; Ch. Meynell; N. Millard; A. Coney

Czech Republic

CCA

CESKA KOMORA ODHADCU MAJETKU (CKOM)

Czech Chamber of Appraisers (CCA)

Represented Proxy from … Absent Proxy to PFVA Delegate: M. Wisniewski

France

CEF

CONFÉDÉRATION DES EXPERTS FONCIERS (CEF)

Confederation of Property Valuers

Present Proxy from … Absent Proxy to …..

Delegate: M. Booth

France

CEIF- FNAIM

CHAMBRE DES EXPERTS IMMOBILIERS DE FRANCE (CEIF)

Chamber of the Real Estate Valuers of France

Present Proxy from …. Absent Proxy to ……

Delegates: P. Conté; E. Muzard; E. Gauthier

http://www.tegova.org/en/p42946187d6e4b

http://www.tegova.org/en/p42946187d6e4b

http://www.tegova.org/en/429b1be0cd543

http://www.tegova.org/en/42cbe31b459cb

http://www.tegova.org/en/42933f57ae3f8

http://www.tegova.org/en/p4294347f56ddc


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Italy

CEPAS

OBSERVER

CEPAS srl

Certification Body

Present Proxy from … Absent Proxy to …

Delegate: L. Brucato

Bulgaria

CIAB

КАМАРА НА НЕЗАВИСИМИТЕ ОЦЕНИТЕЛИ В БЪЛГАРИЯ (КНОБ) Chamber of Independent Appraisers in Bulgaria (CIAB)


Delegates: S. Dermendzhieva; M. Arabdzhieva; Y. Gechev Ivanov

France

CNEI

COMPAGNIE NATIONALE DES EXPERTS IMMOBILIERS (CNEI)

National Company of Real Estate Experts

Present Proxy from …… Absent Proxy to …… Delegate: C. Perrière

Italy

CNGeGL

CONSIGLIO NAZIONALE GEOMETRI e LAUREATI (CNGGL)

National Council of Surveyors


Delegates: A. Benvenuti; M. Grazia-Scorza

France

CSN

CONSEIL SUPERIEUR DU NOTARIAT (CSN)

High Council for the Notarial Profession

Present Proxy from …… Absent Proxy to ….

Delegates: L. Balzac; F. Laevens

Montenegro

CUP

UDRUŽENJE NEZAVISNIH PROCJENJIVAČA CRNE GORE (CUP) Association of Independent Valuers of Montenegro

Present Proxy from …… Absent Proxy to …… Delegate: -

http://www.flags.net/BULG.htm

http://www.tegova.org/en/4294896ea26e7

http://www.tegova.org/en/p4639f9753140c

http://upload.wikimedia.org/wikipedia/commons/6/64/Flag_of_Montenegro.svg


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Denmark

DE

DANSK EJENDOMSMAEGLERFORENING (DE)

The Danish Association of Chartered Estate Agents


Delegate: -

Belgium

FRNB/KFBN

FÉDÉRATION ROYALE DU NOTARIAT BELGE (FRNB)

KONINJLIJKE FEDERATIE VAN HET BELGISCH NOTARIAAT (KFBN)

Royal Federation of Belgian Notaries


Delegate: -

Croatia

HDSViP

HRVATSKO DRUŠTVO SUDKIH VJEŠTAKA I PROCJENITELJA (HDSViP)

Croatian Association of Court Expert Witnesses and Valuers (CACEWaV)

Present Proxy from … Absent Proxy to..…

Delegate: M. Bestvina

Germany

HypZert

OBSERVER

HYPZERT GmbH

Certification Body

P


Delegate: -

France

IFEI

INSTITUT FRANCAIS DE L'EXPERTISE IMMOBILIÈRE (IFEI)

French Institute of Real Estate Valuation


Delegate: C. Galpin

Ireland

IPAV

INSTITUTE OF PROFESSIONAL AUCTIONEERS AND VALUERS (IPAV)


Delegates: P. Davitt; A. Redmond

http://www.tegova.org/en/42933f57ae3f8

http://www.tegova.org/en/p42942db1bc5ed

http://www.tegova.org/en/428b5d23e8e55


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Montenegro

IOPCG

INSTITUT OVLAŠĆENIH PROCJENJIVAČA CRNE GORE (IOPCG)

Institute of Certified Valuers of Montenegro


Delegate: S. Radović

United Kingdom

IRRV

INSTITUTE OF REVENUES RATING AND VALUATION (IRRV)

Present Proxy from Absent Proxy to ……

Delegates: R. Messenger; D. Magor; J. MCCafferty; I. Fergusson; J.

Hockey; R. Taylor

Italy

IsIVI

ISTITUTO ITALIANO di VALUTAZIONE IMMOBILIARE (IsIVI)

Italian Institute for Real Estate Valuation

Represented Proxy from … Absent Proxy to ASSOVIB

Delegate: S. Cappelli

Germany

IVD

IMMOBILIENVERBAND DEUTSCHLAND IVD BUNDESVERBAND e.V. (IVD)

German Real Estate Professional Association


Delegate: A. Weber

Georgia

IVSG

საქართველოს დამოუკიდებელ შემფასებელთა საზოგადოება

Independent Valuers Society of Georgia (IVSG)

Represented Proxy from …… Absent Proxy to NAVS

Delegate: D. Ilić

Germany

IW

OBSERVER

INGENIEURBÜRO WESELMANN GmbH

Ship Valuation Company


Delegate: -

http://upload.wikimedia.org/wikipedia/commons/6/64/Flag_of_Montenegro.svg

http://www.tegova.org/en/428b5d23e8e55

http://www.tegova.org/en/42948e7b0a75e

http://www.tegova.org/en/p42946fa46225f


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Kosovo

KAA

OBSERVER

SHOQATES SE VLERESUESVE TE KOSOVES (SHVK)

Kosovo Appraisers Association (KAA)


Delegate: -

Republic of Macedonia

KPRM

KOMORA NA PROCENUVACI NA REPUBLIKA MAKEDONIJA (KPRM) Chamber of Valuers of the Republic of Macedonia


Delegate: -

Latvia

LIVA

LATVIJAS IPASUMU VERTETAJU ASOCIACIJA (LIVA)

Latvian Association of Property Appraisers

Present Proxy from RBA …… Absent Proxy to ……

Delegate: A. Zuromskis

Lithuania

LTVA

LIETUVOS TURTO VERTINTOJU ASOCIACIJA (LTVA)

Lithuanian Association of Property Valuers


Delegate: D. Albertaviciené

Hungary

MAISZ

MAGYAR INGATLANSZÖVETSÉG (MAISZ)

Hungarian Real Estate Association (HREA)

Present Proxy from …… Absent Proxy to …… Delegate: -

Serbia

NAVS

NACIONALDO UDRUZENJE PROCENITELJA SRBIJE (NUPS)

National Association of Valuers of Serbia (NAVS)

Present Proxy from IVSG Absent Proxy to ……

Delegate: D. Ilić

http://www.tegova.org/en/p4b0675ffb7725

http://www.tegova.org/en/429490a30da7a

http://www.tegova.org/en/429719fb5cf66

http://www.tegova.org/en/42947fbb1535f

http://www.tegova.org/en/p4dbaf24a832e3


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Netherlands

NCREA

WAARDERINGSKAMER

The Netherlands Council for Real Estate Assessment (NCREA)

Present Proxy from ….. Absent Proxy to ..… Delegates: M. Kathmann; B. Bervoets

Norway

NTF

NORGES TAKSERINGSFORBUND (NTF)

Norwegian Surveyors and Valuers Association


Delegates: O. Skare ; A. Huser

Netherlands

NVM

NEDERLANDSE VERENIGING VAN MAKELAARS IN ONROERENDE GOEDEREN EN

VASSTGOEDDESKUNDIGEN (NVM)

Dutch Association of Real Estate Brokers and Real Estate Experts


Delegate: S. Roggeveen

Austria

ÖVI

ÖSTERREICHISCHER VERBAND der IMMOBILIENWIRTSCHAFT (ÖVI)

Austrian Real Estate Associationy


Delegates: G. Flödl; A. Holzapfel

Greece

PEOPLECERT

OBSERVER

PEOPLECERT HELLAS

Certification Body


Delegate: -

Poland

PFVA

POLSKA FEDERCJA STOWARZYSZEN RZECZOZNAWCÓW MAJATKOWYCH (PFSRM)

The Polish Federation of Valuers' Associations (PFVA)

Present Proxy from CCA Absent Proxy to ……

Delegates: K. Grzesik; M. Wisniewski

http://www.tegova.org/en/42972048b73ad

http://www.tegova.org/en/429722b7c6309


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Russian Federation

PRSA

ПАРТНЕРСТВО РОССИЙСКОГО ОБЩЕСТВА ОЦЕНЩИКОВ (ПРОО)

Partnership of The Russian Society of Appraisers (PRSA)

Represented Proxy from …… Absent Proxy to RSA

Delegate: S. Tabakova

Russian Federation

RBA

РОССИЙСКАЯ КОЛЛЕГИЯ ОЦЕНЩИКОВ (РКО)

Russian Board of Appraisers (RBA)

Represented Proxy from … Absent Proxy to LIVA

Delegate: A. Zuromskis

Russian Federation

RSA

РОССИЙСКОЕ ОБЩЕСТВО ОЦЕНЩИКОВ (POO)

Russian Society of Appraisers (RSA)

Present Proxy from PRSA Absent Proxy to …… Delegate: S. Tabakova

Sweden

SAMHÄLLSBYGGARNA

SFF

SAMHÄLLSBYGGARNA-SFF

The Swedish Professionals for the Built Environment

Present Proxy from …… Absent to …… Delegate: -

Slovenia

SIR

SLOVENSKI INSTITUT ZA REVIZIJO (SIR)

Slovenian Institute of Auditors


Delegate: S. Eizek

France

SNPI

SYNDICAT NATIONAL DES PROFESSIONNELS IMMOBILIERS (SNPI)

National Association of Real Estate Professionals


Delegates: G. Fons; B. Wasels

http://www.tegova.org/en/p4912fae7228a4

http://www.tegova.org/en/43873957476b9

http://www.tegova.org/en/p4912fcbe62c73

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http://www.tegova.org/en/429727f5ed3e2

http://www.tegova.org/en/p4294484867f44


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Albania

SVP

SHOQERIA E VLERESUESVE TE PASURIVE TE PALUAJTSHME (SVP) The Society of Real Estate Valuers

Present Proxy from …… Absent Proxy to ANEVAR Delegate: D. Manate

United Arab

Emirates

TAQYEEM

مركز التقييم العقاري - دائرة األراضي و األمالك Taqyeem - Real Estate Appraisal Centre, Dubai Land Department


Delegate: -

Belgium

UGEB-ULEB

UNION DES GÉOMÈTRES EXPERTS DE BRUXELLES (UGEB-ULEB)

Union of Expert Geometers of Brussels


Delegate: S. Merckx

The Netherlands

VastgoedPRO

VastgoedPRO

Association of Real Estate Valuers of the Netherlands


Delegate: R. Limpens

The Netherlands

VBO

VBO MAKELAAR

Dutch Association of Real Estate Agents and Valuers


Delegates: G. de Jager; H. Van den Heuvel

Germany

vdp

VERBAND DEUTSCHER PFANDBRIEFBANKEN e.V. (vdp)

Association of German Pfandbrief Banks

P Present Proxy from …… Absent Proxy to …..

Delegate: W. Kälberer

http://www.tegova.org/en/4268c83bdf252

http://www.tegova.org/en/p4294727f7372b


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Germany

VÖB

BUNDESVERBAND ÖFFENTLICHER BANKEN DEUTSCHLANDS e. V. (VÖB)

Association of German Public Sector Banks

Present Proxy from …. Absent Proxy to …..

Delegates: L. Yerzembek; S. Zerbe

TEGoVA

SECRETARIAT

THE EUROPEAN GROUP OF VALUERS’ ASSOCIATIONS (TEGoVA)

G. Cuper; F. Isnard; M. MacBrien

Members Quorum

Total Members

61

Total Members present and represented at the General Assembly

49

Total Full & Associate Members

53

Total Full & Associate Members present and represented at the General Assembly

45

Total Observer Members

8

Total Observer Members present and represented at the General Assembly

4

Quorum yes

The Secretary and The Scrutineer

http://www.tegova.org/en/429478eeaa85b


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Applicants & Guests

Italy

IEV

ISTITUTO di ESTIMO e VALUTAZIONE (IEV)

E- Valuations- Institute of Estimation and Valuation

Delegate: A. D. Berloco

Turkey

TDUB

TÜRKIYE DEĞERLEME UZMANLARI BIRLIĞI (TDUB)

Turkish Appraisers Association

Delegate: B. Y. Yildirim

Ukraine

UABVS

ASSOCIATION OF PROFESSIONAL BANK ESTIMATES UKRAINE (ASBEU)

Ukrainian Association of Bank Valuation Specialists

Delegate: O. Kalapusha

United States

of America

IAAO

INTERNATIONAL ASSOCIATION of ASSESSING OFFICERS (IAAO)

Delegates: R. Ripperger; R. Worth

Cyprus

CVA

CYPRUS VALUERS ASSOCIATION

Delegate: C. Iacovides

Malta

KTP

KAMRA TAL-PERITI (KTP)

Chamber of Architects & Civil Engineers

Delegate: S. Vella Lenicker

https://commons.wikimedia.org/wiki/File:Flag_of_Ukraine.svg?uselang=fr

http://www.theodora.com/maps/cyprus_map.html


22

ANNEX II

Proxies

FROM TO

Date

Member

Representative

Member

Representative

05.10.2016

IsIVI (Italy)

E. Campagnoli

ASSOVIB (Italy)

Silvia Cappelli

10.10.2016

SVP (Albania)

M.Beluli

ANEVAR (Romania)

Daniel Manate

11.10.2016

CCA (Czech Rep.)

J. Santrucek

PFVA (Poland)

Marek Wisniewski

12.10.2016

RBA (Russia)

Y. Shkolnikov

LIVA (Latvia)

Arturs Zuromskis

12.10.2016

IVSG (Georgia)

B. Diakonidze

NAVS (Serbia)

Danijela Ilic

17.10.2016

PRSA (Russia)

I. Artemenkov

RSA (Russia)

Svetlana Tabkova



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24


25


26


27


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29

ANNEX III

Voting rights & Proxies of Full and Associate Members of TEGoVA

Country

Member

Votes

Proxy

Total

France

AFREXIM

21

21

CEF 21 21

CEIF-FNAIM 22 22

CNEI 12 12

CSN 21 21

IFEI 21 21

SNPI 21 21

Total France 139 139

Germany

BDVI 21 21

BVS 22 22

IVD 21 21

Vdp 21 21

VÖB 21 21

Total Germany 106 106

Netherlands

NVM 42 42

VastgoedPRO 26 26

VBO 26 26

Total Netherlands 94 94

Italy

ASSOVIB 26 26

CNGeGL 36 36

IsIVI 17 to ASSOVIB 17

Total Italy 79 79

UK

CAAV 31 31

IRRV 31 31

Total UK 62 62

Spain

AEV 16 16

AEVIU 14 14

ATASA 14 14

Total Spain 44 44

Russia

PRSA 14 to RSA 14

RBA 12 to LIVA 12

RSA 16 16

Total Russia 42 42

Austria

ARE 21 21

ÖVI 21 21

Total Austria 42 42

Belgium

FRNB-KFBN 21 absent 0

UGEB-ULEB 21 21

Total Belgium 42 21

Norway NTF 31 31

Denmark DE 25 absent 0

Ireland IPAV 21 21

Sweden SFF 21 absent 0

UAE TAQYEEM 21 absent 0

Greece AVAG 19 19

Romania ANEVAR 16 16

Slovenia SIR 14 14

Macedonia

KPRM 7 absent 0

BSV 7 absent 0

Total Macedonia 14 0

Poland PFVA 14 14

Bulgaria CIAB 12 12

Czech Rep. CCA 12 to PFVA 12

Portugal ASAVAL 10 10

Croatia HDSViP 10 10


30

Montenegro

CUP 5 absent 0

IOPCG 5 5

Total Montenegro 10 5

Hungary MAISZ 9 absent 0

Georgia IVSG 7 to NAVS 7

Latvia LIVA 7 7

Lithuania LTVA 7 7

Serbia NAVS 7 7

Albania SVP 4 to ANEVAR 4

TOTAL 53 941 825



31

ANNEX IV

Budget for the 2017 Financial Year

(in EUR; 61 members; 01.01.17 / 31.12.17)

2017 Budget

INCOME

Budget Total

Annual Subscription Demand (2) 279.439

Annual Subscription Demand Candidate Members (3) 9.975

Complementary Subscription Demand (REV, REVC & TRV) 374.200

Other 4.386

Total Ordinary Income 668.000

REVASE Project (EU funds) 26.804

Total Extraordinary Income 26.804

Total € 694.804

(2) Member fees remain unchanged (3) if approved by the 2016 Autumn General Assembly

EXPENDITURE

Budget Total

Secretariat 330.000

Accountant’s fees 5.500

Auditor’s remuneration 4.500

Statutory publications 210

Legal advice 12.400

Telephone & DSL 2.100

Postage & express courier 830

Stationary, printing, awards & small office supplies 2.500

Representation expenses Belgium & abroad 16.750

Travel & accommodation expenses 20.660

Website hosting & running expenses 10.900

REV, REVC & TRV Programmes 16.600

EVSB & EVPMB 20.660

Net interest & banking expenses 250

Taxes 200

Other 1.640

Ordinary Expenditure (excluding VAT) 445.700

VAT on Ordinary Expenditure (21 %) 93.600

New CMS TEGoVA Website (depreciation of € 95.075,75 investment) 31.700

Monies not allocated 97.000

Total Ordinary Expenditure 668.000

REVASE Project 26.804

Total Extraordinary Expenditure 26.804

Total € 694.804

Note: of the total ordinary expenditure budget, the Belgian VAT amounts to € 93.600

(see next page)


32

The 2017 financial year resources

Member’s contributions are based on the regime for full and associate members approved in Edinburgh in November 2006. The member fees remain unchanged. See Members’ Contributions chart.

REV: € 272.000 of complementary subscriptions from 30 confirmed Awarding Member Associations (AMAs) + 2 possible TMA candidates.

€ 5.000 of initial complementary subscriptions (2 candidate AMAs)

€ 2.000 of complementary subscriptions (2 new AMAs)

€ 30.000 of annual complementary subscriptions (30 confirmed AMAs)

€ 215.000 of annual certificate complementary subscriptions (from current REVs)

€ 20.000 of new certificate complementary subscriptions (estimate 200 new REV valuers)

REVC: € 40.500 of complementary subscriptions coming from 1 confirmed AMA + 1 possible TMA candidate

€ 2.500 of initial complementary subscriptions (1 candidate C-AMA)

€ 1.000 of annual complementary subscriptions

€ 1.000 of complementary subscriptions (1 new C-AMA)

€ 16.000 of annual certificate complementary subscriptions (from current REVCs)

€ 20.000 from new certificate complementary subscriptions (estimate 5 new REVCs)

TRV: € 61.700 of complementary subscriptions from confirmed 5 Residential Awarding Member Associations (R-AMAs) + 4 possible TMA candidates.

€ 10.000 of initial complementary subscriptions (4 candidate R-AMAs)

€ 9.000 of annual complementary subscriptions (5 + 4 new R-AMAs)

€ 22.700 of annual certificate complementary subscriptions (from current TRVs)

€ 20.000 of new certificate complementary subscriptions (estimate 200 new TRVs valuers)

2016 Budgetary surplus: a surplus is expected for the 2016 financial year. It will enter in the accounts as ‘Other amounts payable’.

REVASE Project: balance of € 44.700 from EU funds of wich € 17.896 have been perceived in July 2016.

The 2017 financial year expenditures

Secretariat: MacBrien Cuper Isnard SPRL fees as per contract.

Representation expenses Belgium and abroad: Board meetings and working group meetings in Brussels (lunch at TEGoVA offices) or elsewhere, expenses for the Secretariat and the Chairman of the EVSB to attend two General Meetings abroad, plus other (according to needs and available funds under this budgetary line).

REV, REVC & TRV Programme : € 20.000 (€ 16.530 without VAT)

Travel and representation expenses (R.C. audits): € 5.000 (€ 4.150 without VAT)

EV Journal: 10.000 (€ 8.260 without VAT)

Printing: € 3.000 (€ 2.480 without VAT)

Other: € 2.000 (€ 1.640 without VAT)

Accountant’s & statutory auditor’s fees: fees from BDO Belgium and Ernst & Young Belgium.


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INCOME

Full and Associate Member Subscriptions Demands

Country Full & Associate Member Annual Subscription

France

AFREXIM 6.000

CEF 6.000

CEIF-FNAIM 6.250

CNEI 6.000

CSN 6.000

IFEI 6.000

SNPI 6.000

Total France 42.250

Germany

BDVI 6.000

BVS 6.240

IVD 6.000

VDP 6.000

VÖB 6.000

Total Germany 30.240

Netherlands

NVM 12.206

VastgoedPRO 7.524

VBO 7.524

Total Netherlands 27.254

Italy

ASSOVIB 7.524

CNGeGL 10.388

IsIVI 5.000

Total Italy 22.912

United Kingdom

CAAV 8.841

IRRV 8.841

Total UK 17.682

Spain

AEV 4.638

AEVIU 4.000

ATASA 4.000

Total Spain 12.638

Austria

ARE 6.000

ÖVI 6.000

Total Austria 12.000

Russia

PRSA 3.947

RBA 3.360

RSA 4.638

Total Russia 11.945

Norway NTF 8.841

Denmark DE 7.280

Belgium UGEB-ULEB 6.000

Ireland IPAV 6.000

Sweden SAMHÄLLSBYGGARNA -SFF 6.000

UAE TAQYEEM 6.000

Greece AVAG 5.450

Romania ANEVAR 4.638

Croatia HDSViP 3.000


34

Macedonia

BSV 2.000

KPRM 2.071

Total Macedonia 4.071

Slovenia SIR 4.000

Poland PFVA 3.947

Bulgaria CIAB 3.360

Czech Rep. CCA 3.360

Montenegro

CUP 1.500

IOPCG 1.500

Total Montenegro 3.000

Portugal ASAVAL 3.000

Hungary MAISZ 2.500

Albania SVP 2.071

Georgia IVSG 2.000

Latvia LIVA 2.000

Lithuania LTVA 2.000

Serbia NAVS 2.000

Total Full & Associate Member Subscription Demands € 267.439

Observer Member Subscription Demands

Country Observer Member Annual Subscription

Canada AIC 1.500

Germany HypZert 1.500

Germany IW 1.500

Greece PEOPLECERT 1.500

Italy CEPAS 1.500

Kosovo KAA 1.500

Netherlands NCREA 1.500

USA AI 1.500

Total Observer Member Subscription Demands € 12.000

Total Member Subscription Demands € 279.439

Candidate Member Subscription Demands

Country Member Annual Subscription

Italy IEV 1.500

Turkey TDUB 6.404

Ukraine UABVS 2.071

Total Candidate Member Subscription Demands € 9.975

REV, REVC & TRV Complementary Subscription Demands

REV 272.000

REVC 40.550

TRV 61.700

Total Complementary Subscription Demands € 374.200


35

Summary

TOTAL SUBSCRIPTIONS INCOME

Total Member Subscriptions 279.439

Total Candidate Member Subscriptions 9.975

Total Complementary Subscriptions 374.200

Total 2017 Subscriptions Income € 663.614

TOTAL INCOME

Total Member Subscriptions 279.439

Total Candidate Member Subscriptions 9.975

Total Complementary Subscriptions 374.200

Other 4.386

Total 2017 Income € 668.000

TEGoVA General Assembly Malahide, Co Dublin 22 October 2016 · TEGoVA General Assembly –...

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